Don't Let Them Tell You Taxes Haven't Gone Up

Today, the average family of four sends 24% of its annual
income to the federal government.

In 1948, that number was only 2%.

Why? A key reason is that in 1948, the personal tax exemption,
which permits taxpayers to deduct dependents, was $600 in 1948, equal to
42.1% of Americans' personal income. If that number was adjusted for 1997's
personal income levels, that $600 exemption would be worth over $9,000 today.
But instead it is worth less than $2,500, an amount equal to less than 12%
of Americans' per capita income.